Son Hai Group and a Brilliant 2023
2023 is a year of brilliant success for Son Hai Corporation. The company has achieved a revenue of nearly 4,000 billion VND, contributing more than 106 billion VND to the state budget, making it the largest corporate income tax contributor in Quang Binh province.
In 2023, Son Hai Group continuously appeared in winning consortiums for major projects such as the North-South expressway from Hoai Nhon to Quy Nhon (winning bid price of 5,481 billion VND), the North-South expressway from Van Phong to Nha Trang (winning bid price of 3,314 billion VND), the North-South expressway from Vung Ang to Bung (winning bid price of 4,766 billion VND), the Bien Hoa – Vung Tau expressway phase 1 (winning bid price of nearly 2,100 billion VND)…
The total value of these packages amounts to 15,661 billion VND, accounting for 77.3% of the total value of all bidding packages in Son Hai’s bidding history.
Among the winning companies of the North-South expressway phase 2 project, there are 5 listed and stock-traded major contractors, including: Vietnam Export Import and Construction Corporation (Vinaconex, stock code: VCG), Deo Ca Infrastructure Investment Corporation (DII, stock code: HHV), Construction Company No.1 (stock code: CC1), Cienco4 Group (stock code: C4G), and Construction Company No.36 (TCT36, stock code: G36).
In terms of total revenue in 2023, Son Hai ranks 3rd among these companies.
Compiled from the financial statements of the companies
“Conscience is not allowed to make mistakes! Negligence is not allowed!” – Chairman of Son Hai Group, Nguyen Viet Hai
Originally a small business in Quang Binh province, Son Hai was established in 1998 with an initial staff of only 5-7 people, and the company’s headquarters was the director’s private house.
Son Hai’s reputation truly emerged in 2014 when the company participated in the expansion project of National Highway 1A.
At that time, road sections were usually warranted by contractors for only 2 years. However, Son Hai declared a warranty period of 5 years for the 2 packages it implemented, namely package 10 and package 14, with a total length of 15 km passing through Quang Binh province. Son Hai also installed “5-year warranty” signs along the roads it constructed for people to participate in traffic and supervision.
Son Hai Group’s 5-year warranty signs along the roads
On October 25, 2022, Son Hai Group played a bigger role by sending a letter to the Ministry of Transport about committing to a 10-year warranty for the expressways implemented by Son Hai Group.
Accordingly, Son Hai commits to a 10-year warranty for package 10-XL of the Mai Son – National Highway 45 project; package XL01 of the Nghi Son – Dien Chau project, and the entire Nha Trang – Cam Lam project, as well as the following packages of phase 2 on the North-South expressway that Son Hai Group takes responsibility for.
This is an unprecedented precedent in the transport industry, which has created a great reputation for the company. However, this also means that the company must truly have confidence in its capabilities, construction quality, as well as the entire construction and supervision process must be precise.
In his speech on the threshold of the new year 2024, Chairman of Son Hai Group – Mr. Nguyen Viet Hai encouraged employees in the company to be confident in their work over the next 2 years but also emphasized: “I send a message to all colleagues: We are not allowed to make mistakes! Conscience is not allowed to make mistakes! Negligence is not allowed!”
Mr. Nguyen Viet Hai shared that Son Hai must not betray the trust of the people and the government’s trust: “The Son Hai brand is a strong brand. In recent days, colleagues have been on social media sites, almost 99%, even 100%, which is a bit excessive, people support Son Hai. That is a very objective evaluation from society, and cannot be intervened.”
In fact, below the articles and videos about Son Hai Group, there are often many positive reviews from participants about the smooth and flatness of the roads constructed by the company.
Mr. Nguyen Viet Hai – Chairman of Son Hai Group
In addition to the main business of road construction, Son Hai is also involved in various fields. Currently, Son Hai is investing in energy projects such as Dakrong 4 hydropower plant (1,400 billion VND); Dakrong 3 hydropower plant (400 billion VND); Khe Song hydropower plant (180 billion VND), Hướng Sơn 1, 2, 3, 4 hydropower plants (5,000 billion VND).
In the real estate sector, Son Hai is investing in a series of large-scale projects such as Nam Cau Dai urban area (40ha, 141 villas, 424 townhouses and shophouses, a total capital of over 5,000 billion VND); Truong Phuc Phan urban area (10ha, 245 townhouses and shophouses, 500 billion VND); a 25-storey 5-star hotel project; high-end apartment complex in Da Nang with 22 floors; 5-star resort on Bao Ninh coastline (22.6ha, 2,300 billion VND).
Trong Nghia
